USD/ZAR prints mild gains while carrying the pullback from 16.87. 200-bar SMA, seven-day-old resistance line challenge the buyers. 61.8% Fibonacci retracement adds to the downside support. USD/ZAR seesaws around 17.08 while flashing 0.40% gains on the day amid the early Monday morning in Asia. In doing so, the pair carries its recovery moves from 50% Fibonacci retracement of June 10-25 upside. As a result, buyers are again targeting a break of 200-bar SMA, currently around 17.22, after multiple failures during late-June. Also acting as an immediate upside barrier is a falling trend line from June 25, at 17.32 now. Considering the normal RSI conditions, coupled with the pair’s sustained trading beyond the key Fibonacci support, buyers might not hesitate to attack the 18.00 threshold on the successful break above June 25 top near 17.50/55. Alternatively, a 61.8% Fibonacci retracement level of 16.79 may offer extra support below 16.93 immediate rest-point. Given the pair’s additional weakness past-16.79, 16.50/45 might offer an intermediate halt before dragging the quote to 16.00 round-figure. USD/ZAR four-hour chart Trend: Further recovery expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/JPY taking on the 74.90s as bulls firm their grip despite COVID-19 risks FX Street 3 years USD/ZAR prints mild gains while carrying the pullback from 16.87. 200-bar SMA, seven-day-old resistance line challenge the buyers. 61.8% Fibonacci retracement adds to the downside support. USD/ZAR seesaws around 17.08 while flashing 0.40% gains on the day amid the early Monday morning in Asia. In doing so, the pair carries its recovery moves from 50% Fibonacci retracement of June 10-25 upside. As a result, buyers are again targeting a break of 200-bar SMA, currently around 17.22, after multiple failures during late-June. Also acting as an immediate upside barrier is a falling trend line from June 25, at 17.32 now. Considering… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
